Delfin Midstream and Vitol Inc sign LNG sale and purchase agreement

Delfin Midstream Inc.  has finalized a binding liquified natural gas sale and purchase agreement with Vitol Inc.

As per the agreement, Delfin will supply 0.5 million tonnes per annum on a free on-board basis at the Delfin Deepwater Port 40 nautical miles off the coast of Louisiana to VIC for a 15-year period.

The SPA is indexed to Henry Hub benchmark. The agreement is valued at approximately $3 billion in revenue over 15 years.

In addition to the VIC agreement, Delfin has signed other HOAs and Term Sheets that are being finalized into fully termed agreements.

As a modular project requiring only 2.0 to 2.5 MTPA of long-term contracts to begin construction, Delfin is on schedule to make Final investment Decision on the first FLNG vessel by the end of this year.